Motilal Oswal shares jump nearly 19% as shares trade ex-bonus
Motilal Oswal Financial Services (MOFSL) stock soared 18.7% on BSE, hitting a record high of Rs 719.95 post-ex-bonus trading. The company declared a 1:3 bonus share issue in May, granting three bonus shares for every share held.
of () surged 18.7% on Monday on the , reaching a new all-time high of Rs 719.95 as the traded from Monday’s session.Earlier in May, the firm announced an issue of shares to its eligible shareholders in a 1:3 ratio, meaning that for every share held, the shareholders will receive three bonus shares of the company.
The stock has delivered returns of nearly 300% over the past year, and in the last six months alone, it has surged by 123%.
According to Trendlyne data, the stock is exhibiting strong performance, significantly surpassing all its exponential moving averages, with a mid-range RSI level of 58.
As per Trendlyne, 3 analysts have coverage and all three strongly recommend going long on the stock.
The company reported its Q4 results wherein it reported its highest-ever of Rs 2,626 crore and of 35% for FY24, while the consolidated for Q4FY24 stood at Rs 1,569 crore, up 60% YoY.
MOFSL also delivered its highest-ever quarterly and yearly business PAT of Rs 251 crore, up 68% Y0Y and Rs 803 crore, up 47% YoY respectively.
Motilal Oswal has a presence in 98% of pin codes and a 6% cross-sell ratio providing them with a ready base and headroom to grow our business. With 95% of MOAMC strategies outperforming the benchmark, turnaround in Gross & Net Sales, presence across MF & Alternates, focus on equities, and launch of new products, AMC business may take the growth leadership for MOFSL.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Source: Stocks-Markets-Economic Times
